March 2014 Financial Report

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Accounting
A Software Committee comprised of various city staff are in the process of reviewing and evaluating four (4) Software RFPs.  On April 8th, the Selection Committee received the 4 packets and discussed the evaluation process. The Selection Committee will meet again on April 22nd to submit their evaluation scores, discuss top proposals and have a Q&A session.

The City is getting more requests by vendors to be paid by ACH (Automated Clearing House)  which is an electronic transaction payment instead of being paid by paper check.  There are some logistics to research with our financial software and local financial institution.  More information to come in the near future.

Audit
The pre-audit field work is set for the week of June 23rd through June 27th.  The audit field work is schedule for the week of August 25th through 29th which is a month earlier than last year.

Insurance 
Finance is the lead coordinator for our annual insurance renewal process.  Amber Anderson, our Insurance Agent of Record with McGriff, Seibels & Williams, will be meeting with individual departments to review, edit and update the vehicle, equipment and property lists.  This annual process is important to ensure the City’s is adequately covered and paying for what we want covered.  The timeline is as follows:

  • Last week in April – Worker’s Compensation
  • First week in May — all schedules back and update with Citycounty Insurance Services.
  • Mid-June – Complete draft of renewal lists and review with Finance.

Risk Management 
The Finance Director is working with the Red Flags Rules Committee to complete a review the City’s Identity Theft Prevention Program and is proposed new Fraud Policy.  On March 4th, the committee met and proposed some edit and formatting changes to Identity Theft Prevention Program policy but overall the policy was still applicable.  On March 31st, the committee met to review and discuss the first draft of Fraud Policy.  The Finance Director will make the tracking edit changes to both policies and the committee will reconvene in the first week in May.

Human Resources
Currently reciting for a Library Director and Senior Accountant.  Both closing dates are Friday, April 25, 2014 at 5:00 pm.